Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | Incrediblebank | Flagstar Bank NA |
|---|---|---|
| Total Applications | 821 | 67,778 ▲ |
| Loans Originated | 470 | 29,443 |
| Approval Rate (higher is better) | 57.2% ✓ | 43.4% |
| Denial Rate (lower is better) | 8.8% ✓ | 18.5% |
| Avg Loan Amount | $305,633 | $327,134 |
| Avg Interest Rate (lower is better) | 7.029% ✓ | 7.071% |
| Avg Applicant Income | $34,000 | $39,000 |
| Applications Denied | 72 | 12,533 |
| Applications Withdrawn | 113 | 7,523 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Incrediblebank | Flagstar Bank NA |
|---|---|---|
| Conventional | 780 (95.0%) | 48,663 (71.8%) |
| FHA | 11 (1.3%) | 13,200 (19.5%) |
| VA | 7 (0.9%) | 5,026 (7.4%) |
| USDA | 23 (2.8%) | 889 (1.3%) |
Loan Purpose Breakdown
| Purpose | Incrediblebank | Flagstar Bank NA |
|---|---|---|
| Home Purchase | 600 | 45,054 |
| Refinancing | 78 | 4,246 |
| Cash-out Refinancing | 59 | 15,383 |
| Home Improvement | 52 | 944 |
| Other | 32 | 2,151 |
Top States by Loan Volume
No state data available.
| State | Originated | Rank |
|---|---|---|
| Michigan | 3,594 | #6 |
| Mississippi | 518 | #20 |
Summary
- 821 total applications · 470 originated
- Approval rate: 57.2%
- Denial rate: 8.8%
- Avg loan: $305,633
- Avg rate: 7.029%
- HQ: Wausau, WI
- 67,778 total applications · 29,443 originated
- Approval rate: 43.4%
- Denial rate: 18.5%
- Avg loan: $327,134
- Avg rate: 7.071%
- HQ: Troy, MI
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.